SoFi Launches SoFiUSD: A Regulated U.S. Dollar Stablecoin

SoFi has introduced SoFiUSD, a fully reserved U.S. dollar stablecoin issued by its nationally chartered bank. This move positions SoFi as a regulated lender entering the rapidly evolving realm of on-chain settlement.
SoFiUSD is designed for 24 7, near-instant settlement for banks, fintechs, and enterprise partners using a public, permissionless blockchain. Unlike stablecoins from crypto-native firms, SoFiUSD is issued by SoFi Bank, N.A., an OCC-regulated institution. The key benefits include faster money movement, fewer intermediaries, and continuous settlement without downtime on weekends or holidays.
Partners can transfer funds around the clock at near-instant speeds. SoFi positions itself as a supporting infrastructure rather than the main attraction. The stablecoin is fully reserved 1:1 by cash and can be redeemed immediately, with reserves held at the bank level. This structure places SoFiUSD within the regulated banking system, contrasting with other stablecoins that depend on third-party custodians or lack transparency in reserve disclosures.
Beyond settlement, SoFi plans to allow institutions to issue white-label stablecoins using its infrastructure or integrate SoFiUSD into existing payment systems. The company envisions applications across card networks, retailers, remittances, and enterprise payments, indicating ambitions that extend beyond crypto trading.
The launch comes amid increasing regulatory scrutiny on stablecoins, with calls for clearer rules around reserves, issuance, and oversight through the GENIUS Act. By anchoring SoFiUSD within a national bank, SoFi appears to be betting that a compliance-first approach will be as crucial as speed and cost in the next phase of stablecoin adoption.
SoFiUSD is currently active for internal settlement activities, with broader access anticipated in the coming months. The response from banks and fintechs will help determine whether regulated stablecoins can integrate blockchain payments into the financial mainstream or merely provide a more polished appearance.